3. The Smets-Wouters (2007) model is considered the best of a bad bunch, the dwarf among pygmies. Smets-Wouters, 2007 is generally considered the most accurate general model of the economy in ...

The field of economic models and forecasting encompasses the development and application of theoretical, empirical and computational frameworks to predict future economic outcomes. These models range ...

This is a preview. Log in through your library . Abstract This paper analyzes the optimal intertemporal control of a biological invasion. The invasion growth function is non-convex and control costs ...

Léon Walras (1874) had already realised that his neo-classical general equilibrium model could not accommodate autonomous investments. In the early 1960s, Amartya Sen analysed the same issue in a ...

Central banks and other policy institutions have a long history of using macroeconomic models to help prepare forecasts and to quantify the economic consequences of various policies. Likewise, private ...